FUNDING
Accountants

7 changes we’ve made to Fluidly that make a huge difference

We’re constantly working on both big and small (but still important) changes to Fluidly – to make our tools simpler, easier and more useful. 

A big part of the way we decide what changes to make is the feedback we get from customers. Whether it’s an accountant or a hand car wash owner, we receive an enormous amount of valuable input, which we act on and feed into our tools and features. 

Ultimately, you help us improve Fluidly. So for this blog, we wanted to run through a handful of updates we’ve made recently – big and small – to give you a sense of what’s changed. 

1. Making VAT a lot less stressful  

In April we launched one of our most-requested features, VAT forecasting, which allows you to estimate VAT with ease. 

More than half of accountants calculate VAT in Excel, but spreadsheet formulas are notoriously fiddly, time-consuming and prone to human error. Add to that the government’s VAT deferral scheme, and VAT can get complicated very quickly. 

The Fluidly forecast now automatically estimates what businesses need to pay HMRC each quarter, so you can get the right plan in place. While Fluidly isn’t meant to replace calculating VAT entirely, it does provide a strong indication of what’s coming up – so you can spend less time in spreadsheets and more time planning. 

2. Uncovering businesses who could benefit from cashflow advice

For accountants, one of the hardest parts of rolling out a new cashflow service is identifying which clients might need advice. 

Last year we updated Fluidly’s Portfolio View, which shows every client’s cashflow situation at a glance, to help you do just that. Fluidly uncovers relevant clients automatically, which are highlighted as “good match” businesses, so even a quick skim can reveal crucial insights. 

This feature is unique to Fluidly and rooted in practical business data like number of years trading, along with the volume of customers, suppliers and invoices moving through a company. We run the analysis every day, so if you add a new client to Fluidly, we’ll check if they’re “good match” by the following day. 

3. Making the language we use clearer 

When it comes to accounting, language is very important. So, like any good accounting professional, we try to steer clear of jargon and make small business finance easy to understand. 

We’ve recently updated some of the words we use across Fluidly, particularly in our Forecast and Plan features, to make them simpler and clearer. As always, we’d love to have your input here – so if there’s anything you spot that you think could be improved, do let us know. 

4. Comments: Ensuring you can keep clients or colleagues in the loop  

One of our most popular updates has been the addition of comments to Fluidly, which allows you to leave a note for a client or a colleague within our app. It’s a great way to keep clients or other users in your business in the loop. 

Our accounting partners have been using comments to provide additional context, highlight problems or help clients take a specific action. 

You can also mark specific comments for review – and when the issue is fixed, users can then close the comments. This feature is really useful for focusing your clients’ or colleagues’ attention on the most pressing issues, so you can come up with solutions quickly.

5. Making Fluidly easier to use

Over the years Fluidly has transformed a great deal, including an entire redesign of our home page last year, to showcase all the key cashflow info you might need as soon as you log in.

In April we also made various tiny but important changes to the way users interact with Fluidly, like pre-filling a minus sign for cost and assets account groups, so you don’t have to remember to do it yourself. 

We’ve made it easier to tweak the cells in the Forecast too, which accountants like Stuart Hurst at Accounts and Legal consider a key part of using Fluidly with clients. 

6. Identifying clients who could benefit from a conversation around funding 

Along with identifying which clients might need cashflow advice, it can be difficult to spot which businesses could need a cash injection. And by the time they come to you for help, the problem is likely to be even more urgent and trickier to remedy. 

With Fluidly, we help you see which clients need attention – so you can take action immediately and reach out with something useful, like a way to deal with Brexit-related delays, lease a vehicle or finance a new asset. 

With our latest updates to Portfolio View, we’ve made it easier to uncover which clients might need a loan, see what lending products they’re eligible for and refer them to an FCA-qualified funding specialist. As a result, you can be more proactive and demonstrate that you have clients’ best interests at heart. 

7. Adding new providers and funding products to our lender panel 

Almost every business needs funding at some point, so it’s a sure-fire way to help clients. But searching through lenders and products to make a recommendation can be daunting, as is the risk of putting a foot wrong.

Fluidly helps you find funding for your clients with ease. We uncover who needs finance, guide clients through their application and deal with the lenders and paperwork.

We’re constantly adding new lenders and funding products to our platform too, to give small businesses even more choice. Whether it’s invoice financing from an alternative lender or a term loan from a high street bank, Fluidly helps you find the best deal for your clients. 

Log in now to see the changes

If you’re not using Fluidly already, book a demo here

 

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